THE STATE FINANCES. STATE INDEBTEDNESS. The amount of State indebtedness will be seen from the following statement, as also the manner in which it has been funded: Total receipts for the year ending September 30, 1868... DISBURSEMENTS. $982, 870 90 The amount of the productive School Fund on the 30th days of September, 1867, and 1868, was as follows: Showing an increase of the productive fund of $109, 179.23, during the past This fund consists of the proceeds of the sales of lands granted by Congress for the support of a University. The amount of this fund which was productive at the end of the fiscal year, ending September 30. 1867, and 1868, respectively, was as follows: Showing an increase in the productive fund during the last year, of $5,548.26. Receipts.. Disbursements. UNIVERSITY FUND INCOME. $27,658 38 31, 129 49 NORMAL SCHOOL FUND. This fund is composed of the proceeds of the sale of lands set apart for the support of Normal Schools, by chapter 537, laws of 1865. Twenty-five per cent. of the income of this fund is annually transferred to the School Fund Income. The amount of productive fund on the 30th day of September, 1867, and 1868, respectively, was as follows: Showing an increase in the productive fund during the past year of $22,502.19. Receipts... NORMAL SCHOOL FUND INCOME. $47,776 20 49,827 54 AGRICULTURAL COLLEGE FUND. This fund consists of the proceeds of the sales of lands granted by Congress to the State for the support of an institution of learning, where shall be taught the principles of Agriculture and the Arts. The interest on the productive fund forms the income. The amount of productive fund, September 30, 1867, and 1868, respectively, was as follows: Showing an increase of the productive fund of $7,071.40. AGRICULTURAL COLLEGE FUND INCOME. Receipts. Disbursements.. $1,817 89 43 38 DRAINAGE FUND. This fund consists of the proceeds of the sale of lands set apart as Drainage lands, by virtue of chapter 537, laws of 1865, the amount of which is to be annually apportioned to the several counties in which such lands lie, in proportion to the amount of sales in each county, respectively. Amount due on certificates..... 1867. 1868. $30,480 93 |